The innovative biotech company NanoSyrinx has successfully secured £10m in funding, marking a significant advancement in the field of intracellular delivery systems.
- NanoSyrinx, based in Coventry, has attracted investment from major US pharmaceutical company Eli Lilly, alongside notable co-investors.
- This funding will accelerate the development of their pioneering ‘nanosyringe’ technology aimed at enhancing delivery of biologic therapeutics.
- The appointment of Edwin Moses as the new chairman highlights a strategic move to leverage his vast experience in biotech.
- This development represents a crucial step forward in addressing current challenges in drug delivery to previously inaccessible cellular targets.
NanoSyrinx, a biotech firm located in Coventry, has successfully closed a £10 million funding round, drawing notable investment from the US pharmaceutical giant, Eli Lilly. This funding round was co-led by BGF, Octopus Ventures, and M Ventures, with continued support from existing investors such as IQ Capital and Meltwind.
The new capital injection is poised to advance NanoSyrinx’s cutting-edge ‘nanosyringe’ technology. This novel platform targets the intracellular delivery of biologic therapeutics, potentially unlocking new avenues for drug development. According to Lucy Edwardes Jones, Investor at BGF, while significant progress has been made in biologic therapies, delivery remains a substantial bottleneck. “We are excited by the potential of NanoSyrinx’s unique technology to unlock this, enabling promising new drugs to reach previously inaccessible disease targets in the body,” she remarked.
Moreover, NanoSyrinx has announced the appointment of Edwin Moses as their new chairman, replacing Stephen Taylor. Moses brings a wealth of experience, having previously served as CEO of Ablynx NV until its acquisition by Sanofi for $4.8 billion, and CEO of Oxford Asymmetry International plc before its sale to Evotec for £316 million. Dr. Joe Healey, Chief Executive Officer of NanoSyrinx, stated, “Edwin has significant experience as a successful CEO and Chairman, with extensive involvement in biotech fundraising, strategic commercial partnerships and successful exits.”
NanoSyrinx was founded in 2020 with the mission to commercialise research from the University of Warwick’s Medical School. The company’s technology is based on naturally occurring ‘nanosyringes’, which aim to deliver functional protein drugs, such as antibodies and enzymes, directly to the interiors of cells considered ‘undruggable’. This represents a significant step forward in addressing the challenges faced in drug delivery systems.
The strategic investment and leadership appointment mark an important milestone for NanoSyrinx in advancing its innovative drug delivery technology.
